The Missile Defense Agency (MDA) today awarded Lockheed Martin (NYSE: LMT) a follow-on development contract for the Terminal High Altitude Area Defense (THAAD) Weapon System. This indefinite delivery/indefinite quantity (IDIQ) contract supports the continued development of the THAAD Weapon System’s capabilities over the next five years – with two options to extend – for a period of performance of up to 10 years. The contract has a ceiling value of $2.8 billion if both options are exercised. This development advances THAAD’s capabilities against increasingly complex missile threats.
“The combat-proven THAAD interceptor is an effective deterrent against a range of ballistic missile threats, and we are pleased to continue advancing its capabilities for our current and future customers,” said Dan Nimblett, vice president, Upper Tier Integrated Air and Missile Defense at Lockheed Martin Missiles and Fire Control. “THAAD is a key part of our missile defense architecture, and this vote of confidence from the MDA reinforces our commitment to jointly delivering enhanced defensive capability against emerging missile threats.”
This newest contract follows the THAAD Advanced Capability Development contract, awarded in 2012, and will build upon the weapon system’s current capabilities. The scope of the development projects will be outlined through separate task orders over the period of performance.
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Download free sample pages More informationTHAAD provides highly effective, combat-proven missile defense against short, medium and intermediate-range ballistic missile threats. The THAAD Weapon System has demonstrated a perfect flight test record of 17 for 17 intercepts. Sixteen of those intercepts were with a THAAD interceptor. The THAAD Weapon System successfully integrated with the PAC-3 MSE interceptor by firing and controlling PAC-3 MSEs and intercepting a ballistic missile target.
Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security ® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at Lockheedmartin.com .
